§ 13-5-605 — Minimum capital requirements; investment of capital

The initial capital required to organize a chartered family
trust company shall be not less than five hundred thousand
dollars ($500,000.00). The full amount of the initial capital
must be paid in cash to the governing body of the chartered
family trust company, exclusive of all organization expenses,
before the chartered family trust company is authorized to
commence business as a chartered family trust company. Once
organized, a chartered family trust company shall maintain a
minimum level of capital required by the commissioner to operate
in a safe and sound manner based upon the commissioner’s
examination of the company, provided that the level of capital
in a chartered family trust company shall not be less than five
hundred thousand dollars ($500,000.00).